What are your suggested limits for government? How much government control and power is enough?
Let’s look at a simple comparison.
Let’s start with the 1970 federal budget of $196 Billion, this includes LBJ’s “Great Society” cost of the “War on Poverty” in recognition of some type of a needed safety net for the less fortunate.
Using the US Labor Board of Statistics CP-Index calculator, that 1970 $196 Billion budget should cost about $1.102 Trillion in 2010 dollars. However, the budget spent in 2010 was $3.721 Trillion. That is an increase of over 3.3 times what the cost of our government should be if it had not continued to grow its powers, actions and controls on all of us.
Does anyone really believe that the US Government needed to add $2.619 Trillion dollars worth of governmental functions and cost that it did not already have responsibility for in1970? ($426 Billion in 1970 dollars.) Even for those who are pointing out the $100+ Billion a year for the Iraq/Afghanistan war, this is no where near the total massive Trillions of increases in cost we are seeing.
This kind of irresponsible growth of government is not sustainable. Past CBO reports from early 2010 showed an increase in the public debt from $7.5 Trillion at the end of 2009 to $20.3 Trillion at the end of 2020 if President Obama’s 2011 budget were to be implemented as written. Public debt is currently over $14.1 Trillion. Federal Reserve chiefs - the current head, Ben Bernanke, and former Chairman Paul Volcker both have come out and stated it is just not sustainable. The results will be catastrophic if left unchecked.
Government really does need to downsize. Let’s get to work and bring back some common sense in our governmental and fiscal affairs.